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Britain’s businesses are ‘running out of fight’ as country faces longest-ever recession

2022-11-12 10:09:15       source:CNBC

November 11, 2022

LONDON — The doors to The 25, a Torquay-based boutique bed and breakfast on the U.K.’s southwest coast, are now closed for the winter period. But this season, they will remain shut for longer than usual.

With rising energy bills and higher costs piling pressure on U.K. businesses, owner Andy Banner-Price has deferred reopening by a month until well into the spring.

And while forward bookings from regular guests remain strong, new enquiries are down 50% and bookings 15% lower than previous years, painting an uncertain outlook for the year ahead.

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